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AI Reduces Price Gaps in Real Estate
A study by PhD candidate Jitsama Tanlamai and Professors Warut Khern-am-nuai and Maxime Cohen shows that generative AI could help reduce certain inequalities in the real estate market. By analyzing more than 284,000 properties across the United States, the researchers found an 8.7% reduction in price disparities between predominantly White neighborhoods and neighborhoods with large minority populations.